Methods and systems for consolidating, distributing and integrating issuer information for a voting entity

ABSTRACT

Various embodiments of the present invention relate to methods and systems for consolidating, distributing and integrating issuer information for a voting entity. More particularly, in one embodiment of the present invention a computer implemented voting method is provided, comprising: consolidating vote request information relating to a security owned by a beneficial owner and held by at least two custodians for the beneficial owner; generating at least a first computer file including the consolidated vote request information; electronically transmitting the first computer file to a computer system of a voting entity; integrating the first computer file into a database associated with the computer system of the voting entity; receiving, at the computer system of the voting entity, at least one beneficial owner vote instruction sent from the beneficial owner; and generating at least one voting entity vote instruction responsive to the consolidated vote request information, wherein the voting entity vote instruction is generated by the computer system of the voting entity based at least in part upon the integrated first computer file and the beneficial owner vote instruction from the beneficial owner.

RELATED APPLICATIONS

This application is a continuation of U.S. patent application Ser. No.14/324,849, filed Jul. 7, 2014, which is a continuation of U.S. patentapplication Ser. No. 11/153,115, filed Jun. 15, 2005, which claims thebenefit of U.S. Provisional Application Ser. No. 60/646,076, filed Jan.21, 2005, the entirety of these applications are hereby incorporatedherein by reference.

FIELD OF THE INVENTION

Various embodiments of the present invention relate to methods andsystems for consolidating, distributing and integrating issuerinformation for a voting entity. More particularly, in one embodiment ofthe present invention a computer implemented voting method is provided,comprising: consolidating vote request information relating to asecurity owned by a beneficial owner and held by at least two custodiansfor the beneficial owner; generating at least a first computer fileincluding the consolidated vote request information; electronicallytransmitting the first computer file to a computer system of a votingentity; integrating the first computer file into a database associatedwith the computer system of the voting entity; receiving, at thecomputer system of the voting entity, at least one beneficial owner voteinstruction sent from the beneficial owner; and generating at least onevoting entity vote instruction responsive to the consolidated voterequest information, wherein the voting entity vote instruction isgenerated by the computer system of the voting entity based at least inpart upon the integrated first computer file and the beneficial ownervote instruction from the beneficial owner.

For the purposes of the present invention, the term “security” means anyfinancial instrument (or series of instruments) which is issued by acorporation, government, or other entity and which offers evidence ofequity or debt.

Further, for the purposes of the present invention, the term “issuer”means any entity issuing a security.

Further still, for the purposes of the present invention, the term“custodian” means any entity that holds and safeguards a security ownedby a beneficial owner and includes, but is not limited to, for example,a bank, a broker or a trust company.

Further still, for the purposes of the present invention, the term“beneficial owner” means the entity entitled to the benefits ofownership even though another party such as a custodian actually haspossession and/or title to the security.

Further still, for the purposes of the present invention, the term“voting entity” means an entity authorized to transmit votinginstructions on behalf of a beneficial owner.

Further still, for the purposes of the present invention, the term“institutional shareholder” means an entity that is the ultimatebeneficial owner of a publicly traded security and includes, but is notlimited to, for example, an investment manager/advisor, a private and/orpublic pension fund manager and/or an investment company.

BACKGROUND OF THE INVENTION

Rules and regulations promulgated by the U.S. Securities and ExchangeCommission and various self-regulatory organizations (e.g., New YorkStock Exchange) typically require issuers of publicly traded securitiesto distribute certain information to the ultimate beneficial owners oftheir securities. Such information typically includes notices ofshareholder meetings and proxy statements that contain proposals to bevoted upon by shareholders. In this regard, institutional shareholderscommonly hold securities through at least one, but typically several,custodians in “street” name (institutional shareholders use more thanone custodian for purposes including asset protection and/or a means ofmanaging services and fees).

Various mechanisms for information distribution and voting have beenproposed. Examples include the mechanisms described in the followingU.S. patent documents.

U.S. Pat. No. 5,671,358 relates to a system for voting stock componentinterests. More particularly, this patent relates to a data processingsystem for processing the voting of partial stock interests via equityand options, comprising computer means for determining and storingcomponent factors for equity and for calculating and storing componentfactors for options and vote component factors corresponding to each ofsaid component factors for options, wherein each said vote componentfactor is indicative of the right to receive a partial vote attributedto each of said component factors for options, wherein said componentfactors for options are at least two of: (i) a component interestindicative of the right to receive a partial share of stock equal invalue to a stipulated price or a full share of stock of the company on apredetermined future date, whichever is the lesser value; (ii) acomponent interest indicative of the right to receive a partial share ofstock equal in value to the appreciation, if any, of the share of stockabove the stipulated price on the predetermined date; (iii) a componentinterest indicative of the right to receive substitute payments equal inamount to dividends declared with respect to a given date which is priorto the predetermined future date and which goes to zero value at thepredetermined future date.

U.S. Pat. No. 5,758,097 relates to a system for voting stock componentinterests. More particularly, this patent relates to a data processingsystem for processing the voting of partial stock interests via equitycomponents comprising computer means for calculating and storingcomponent factors for equity component interests and vote componentfactors corresponding to each of said component factors, wherein eachsaid vote component factor is indicative of the right to receive apartial vote attributed to each of said equity component factors,wherein said equity component factors are at least two of: (i) acomponent interest indicative of the right to receive a partial share ofstock equal in value to a stipulated price or a fall share of stock ofthe company on a predetermined future date, whichever is the lesservalue; (ii) a component interest indicative of the right to receive apartial share of stock equal in value to the appreciation, if any, ofthe share of stock above the stipulated price on the predetermined date;and (iii) a component interest indicative of the right to receivesubstitute payments equal in amount to dividends declared with respectto a given date which is prior to the predetermined future date andwhich goes to zero value at the predetermined future date.

U.S. Pat. No. 5,819,271 relates to a corporate information communicationand delivery system and method including entitlable hypertext links.More particularly, this patent relates to an integratedcomputer-implemented corporate information delivery system. A databasestores research reports produced by and received electronically frombrokerage firms. Authorization information specifies who is authorizedto access each research reports. The database also stores corporateinformation about a number of corporations. Each item of corporateinformation is produced by and received electronically from one of thecorporations about that corporation. Authorization information specifieswho is authorized to access each item of corporate information. Aresearch delivery module allows a user to submit a query and receivequery results listing research reports and corporate informationsatisfying the query and that the user is authorized to access. Acorporate register module outputs corporate information, the corporateinformation output according to a common format. The corporateinformation may be distributed via the Internet.

U.S. Pat. No. 5,864,871 relates to an information delivery system andmethod including on-line entitlements. More particularly, this patentrelates to an integrated computer-implemented corporate informationdelivery system. A database stores research reports produced by andreceived electronically from brokerage firms. The database also storescorporate information about a number of corporations. Each item ofcorporate information is produced by and received electronically fromone of the corporations about that corporation. Authorizationinformation (“entitlements”) specifies who is authorized to access eachresearch report or item of corporate information. An entitlementsubsystem allows the contributor of the research report or item ofcorporate information to dynamically change, on-line, the entitlementstatus of any or all users/subscribers. A research delivery moduleallows a user to submit a query and receive query results listingresearch reports and corporate information satisfying the query and thatthe user is authorized to access. A corporate register module outputscorporate information, the corporate information output according to acommon format. The corporate information may be distributed via theInternet.

U.S. Pat. No. 6,341,290 relates to a method and system for automatingthe communication of business information. More particularly, thispatent relates to a system comprising a server operable to capturebusiness information from a plurality of sources, capture distributioninformation associated with the business information, integrate thecaptured information in a standardized format, and display the capturedinformation. The system also comprises a database operable tocommunicate with the server. The database is operable to store thecaptured information and communicate the captured information to theserver.

U.S. Pat. No. 6,865,543 relates to a vote certification, validation andverification method and apparatus. More particularly, this patentrelates to an election apparatus for voter certification, validation andverification of voting, providing a voting device for receiving from avoter a vote for at least one ballot selection in an election and agenerator that provides a voter validation receipt bearing a votervalidation number containing indicia of the voter and a report of thevoting by the voter. An accessor responsive to the voter validationnumber enables the voter to validate the vote by comparing a report ofthe vote with an election result tabulated by a vote tabulation center.An election method is disclosed for voters to certify, validate, andverify votes tabulated by a vote tabulation center.

U.S. Patent Application 20010034680 relates to a system and method foronline delivery of investor documents and tabulation and processingcertain investor instructions. More particularly, this applicationrelates to a system for online delivery of documents to Investors, andfor receiving voting or tendering instructions from investors includingan E-broker system with a database that sends information to andreceives information from an Investor through an investor system. Thesystem also includes an electronic dissemination and tabulation system(“EDT”) for securely delivering information directly to or receivinginformation directly from the investor system in response to an Investorrequest sent via the E-broker system. Furthermore, the EDT system sendsinformation to the investor system in correspondence to stock holdingsof the Investor as recorded in the E-broker system.

U.S. Patent Application 20010037234 relates to a method and apparatusfor determining a voting result using a communications network. Moreparticularly, this application relates to sending consent email messagesto each of the potential voters that may vote to determine the result ofthe voting decision. The consent email message includes a hyperlink(URL) to a consent website, where potential voters can access theconsent website to provide consent information. Once the consentinformation for the potential voters has been gathered, a set ofeligible voters is determined from the potential voters based on thosewhich provided consent information. The consent information can includeconsent to receive electronic information regarding the voting decisionas well as consent to vote electronically. Based on the set of eligiblevoters determined, a second email message is sent to each of theseeligible voters, where the second email message provides notification ofa voting website to these eligible voters. When the eligible votersaccess the voting website, their identity is validated, and votinginformation is collected from those eligible voters who consented tovote electronically. Additionally, the voting website may provide thelinks to the electronic format information corresponding to the votingissue. When an eligible voter casts his/her vote, the voting informationprovided in the vote is compiled to determine the final voting decision.Compilation may include storing the voting information in a database,and may also include generating and sending transfer agent emailmessages that provide the voting information to a transfer agent that isresponsible for tallying all of the votes that are cast.

U.S. Patent Application 20020082907 relates to a method for conducting ashareholders meeting with remote participation using a network. Moreparticularly, this application relates to a method for conducting ashareholders meeting when shareholders can participate in theshareholders meeting through a network without having to actually go tothe meeting hall of the shareholders meeting. Remote shareholders areassigned to satellite sites in order to spread the processing load amongthe satellite sites. Among the meeting site, satellite sites, and remoteshareholder sites of the sponsoring company, votes from remoteshareholders sites are tabulated on the satellite sites and sent to themeeting site.

U.S. Patent Application 20030055719 relates to remote participation andvoting in a meeting. More particularly, a system and method fornon-attending members of a group to remotely participate in a votingmeeting through a network such as the Internet is provided. The systemincludes authentication, broadcast and voting computers which worktogether to authenticate the online members, broadcast the meeting tothe authenticated members, and receive votes from the authenticatedonline members.

BRIEF DESCRIPTION OF THE DRAWINGS

FIG. 1 is a block diagram of an information exchange infrastructureaccording to an embodiment of the present invention;

FIG. 2 is a block diagram detailing information exchanged betweenvarious elements of FIG. 1;

FIGS. 3A-1, 3A-2, 3B-1, 3B-2 and 3C are flow charts of an embodiment ofthe present invention related to: receiving notice from a particularissuer of securities or their agent (solicitor) that a distribution ofcertain issuer information to an ultimate beneficial holder of asecurity is desired and/or required; consolidating the informationagainst an institutional account database for a particular votingentity; transmitting the issuer and custodian information to adesignated voting entity; integrating the information into the votingentity's system; receiving the voting instructions from the votingentity; validating and confirming the voting instructions; and reportingthe voting instructions;

FIGS. 4A, 4B and 4C are flow charts of an embodiment of the presentinvention related to: receiving notice from a particular issuer ofsecurities or their agent (solicitor) that a distribution of certainissuer information to an ultimate beneficial holder of a security isdesired and/or required; consolidating the information against aninstitutional account database for a particular voting entity;transmitting the issuer and custodian information to a designated votingentity; integrating the information into the voting entity's system;receiving the voting instructions from the voting entity; validating andconfirming the voting instructions; and reporting the votinginstructions; and

FIGS. 5A and 5B are block diagrams of an information exchangeinfrastructure according to another embodiment of the present invention.

Among those benefits and improvements that have been disclosed, otherobjects and advantages of this invention will become apparent from thefollowing description taken in conjunction with the accompanyingfigures. The figures constitute a part of this specification and includeillustrative embodiments of the present invention and illustrate variousobjects and features thereof.

DETAILED DESCRIPTION OF THE INVENTION

Detailed embodiments of the present invention are disclosed herein;however, it is to be understood that the disclosed embodiments aremerely illustrative of the invention that may be embodied in variousforms. In addition, each of the examples given in connection with thevarious embodiments of the invention is intended to be illustrative, andnot restrictive. Further, the figures are not necessarily to scale, somefeatures may be exaggerated to show details of particular components.Therefore, specific structural and functional details disclosed hereinare not to be interpreted as limiting, but merely as a representativebasis for teaching one skilled in the art to variously employ thepresent invention.

Referring now to FIG. 1, it is seen that in one embodiment of thepresent invention a Data Consolidation Computer System 101 receivesnotice from a securities issuer or their agent (e.g. Vanguard CapitalManagement, Verizon Communications, Morrow & Co. or D. F. King) that adistribution of certain issuer information (e.g. notice of meeting,agenda, director and/or ballot information) to the ultimate beneficialowner of the issuer's security is desired and/or required. In oneexample (which example is intended to be illustrative and notrestrictive), the notice may be sent by letter, fax or email and may beinput into the Data Consolidation Computer System 101 via manual dataentry. In another example (which example is intended to be illustrativeand not restrictive), the notice may be sent electronically in the formof a computer file from an exchange computer system (not shown) to theData Consolidation Computer System 101.

In any case, the Data Consolidation Computer System 101 then generatesand sends a request to first and second designated custodians associatedwith Beneficial Owner 105 (i.e., the beneficial owner of the securitywhich is the subject of the notice from Issuer/Solicitor 103). Therequest may be for certain information (e.g. the names, addresses, sharepositions and/or account numbers) associated with Beneficial Owner 105.In one example (which example is intended to be illustrative and notrestrictive), the request may be in the form of a computer file sentelectronically from the Data Consolidation Computer System 101 to FirstCustodian Computer System 107 and Second Custodian Computer System 109.In another example (which example is intended to be illustrative and notrestrictive), the request may be sent to one or more custodians byletter, fax or email and may be input into an appropriate computersystem via manual data entry.

Each of the First Custodian Computer System 107 and Second CustodianComputer System 109 then responds and returns the requested informationto the Data Consolidation Computer System 101. In one example (whichexample is intended to be illustrative and not restrictive), theresponse may be in the form of a computer file sent electronically fromeach of the First Custodian Computer System 107 and Second CustodianComputer System 109 to the Data Consolidation Computer System 101. Inanother example (which example is intended to be illustrative and notrestrictive), the response may be sent by one or more custodians byletter, fax or email and may be input into Data Consolidation ComputerSystem 101 via manual data entry. Of note, each custodian may berequested or required to respond within a specified time period (e.g.within two business days).

In any case, after the Data Consolidation Computer System 101 receivesthe requested information from the First Custodian Computer System 107(or manually from the custodian associated therewith) and the SecondCustodian Computer System 109 (or manually from the custodian associatedtherewith), the Data Consolidation Computer System 101 matches therequested information against an institutional account database (see,e.g., FIGS. 3A-1, 3A-2 and 4A). The Data Consolidation Computer System101 then consolidates the issuer information and prepares the issuerinformation to be transmitted.

In one example (which example is intended to be illustrative and notrestrictive), this sending is based on an “InstID” for a particularconsolidated data feed client. Further, the consolidated issuerinformation may be transmitted at a specified time period (e.g. eachbusiness night) to Voting Entity Computer System 111. In anotherexample, a secure “File Transmission Protocol” with transmissionencryption transmits the consolidated issuer information. In anotherexample (which example is intended to be illustrative and notrestrictive), the issuer information (e.g. each of the files) istransmitted uniquely and provides positive confirmation that the fullfile has been received at the destination IP address. In anotherexample, the transmission process can be fully automated.

In yet another example, the presence of a file in an outbound mailboxassociated with the Data Consolidation Computer System 101 may initiatean automated scheduler task that sends the file to the IP addressassociated with the file. In yet another example, a confirmation processmay be employed (e.g., upon successfully sending the file(s), anotification (e.g. email) may be generated and sent to the DataConsolidation Computer System 101 indicating that the file(s) have beensuccessfully transferred). In another example, an assigned time windowmay be established and thus, if the assigned time window elapses beforethe file(s) are successfully transmitted, a notification may begenerated.

In any case, once the Voting Entity Computer System 111 receives theconsolidated issuer information (including, for example, vote requestinformation (or ballots)), the issuer information is integrated into theVoting Entity Computer System 111. For example (which example isintended to be illustrative and not restrictive), software may be usedto convert the issuer information into the protocol of the Voting EntityComputer System 111 and then such converted information may be insertedinto one or more databases associated with the Voting Entity ComputerSystem 111.

In a further embodiment, the Voting Entity Computer System 111 sends anotification (e.g. ballot confirmation file) to the Data ConsolidationComputer System 101 to confirm that the Voting Entity Computer System111 received and/or integrated the issuer information. In one example,if the Data Consolidation Computer System 101 does not receive suchnotification (e.g. the Voting Entity Computer System 111 did not confirmthat the issuer information was received and/or integrated), the DataConsolidation Computer System 101 may continue to send the informationuntil the Data Consolidation Computer System 101 receives suchconfirmation.

Finally, the Voting Entity Computer System 111 responds to the DataConsolidation Computer System 101 with vote instructions. In one example(which example is intended to be illustrative and not restrictive),these vote instructions to the Data Consolidation Computer System 101may be based upon instructions received by the voting entity fromBeneficial Owner 105. In another example (which example is intended tobe illustrative and not restrictive), the vote instructions may bederived from the ‘standing instructions’ of the voting entity. (e.g.,always vote with management proposals; always vote against shareholderproposals). In another example (which example is intended to beillustrative and not restrictive), the vote instructions may be derivedfrom the research available as applied to the policy of the institutionbased on the type of proposal (e.g. vote against executive compensationproposals where dilution exceeds 3%). In another example (which exampleis intended to be illustrative and not restrictive), the instructionsmay be sent by letter, fax or email from the Beneficial Owner 105 to thevoting entity and may be input into the Voting Entity Computer System111 via manual data entry. In another example (which example is intendedto be illustrative and not restrictive), the instructions may be sentelectronically in the form of a computer file from a beneficial ownercomputer system (not shown) to the Voting Entity Computer System 111.

In additional embodiments relating to certain issuer information that is“issuer ballot information,” the types of votes returned by the VotingEntity Computer System 111 to the Data Consolidation Computer System 101with a vote instruction may include, but are not necessarily limited to:domestic vote, contest vote and/or non-North American vote. For example,each of these votes may have a corresponding file and thus, each filemay contain a specific type of vote (e.g., that may be processed on adifferent schedule than the other types). In this regard, domestic votesmay be sent in a “DomesticVote” File, contest votes may be sent in a“ContestVote” File and non-North American votes may be sent in a “GlobalVote” File. In another example, domestic votes may be the most prolificand thus, may be sent numerous (e.g. three) times daily. In anotherexample, non-North American votes may be sent to coincide with a globalvoting cycle. In a further example, contest votes may be done on requestor once daily if there are contested meetings in their solicitationperiod.

In a further embodiment, the voting instructions are automaticallyvalidated upon receipt by the Data Consolidation Computer System 101(including a receipt to the Voting Entity Computer System 111 that thevoting instruction has been accepted by the Data Consolidation ComputerSystem 101 for processing in the next update, or the voting instructionhas been rejected for a specific reason).

In another example, the voting entity reviews (e.g., via the VotingEntity Computer System 111) the receipt from the voting instructionvalidation and can correct any voting instruction that has beenrejected. The voting entity can then either resubmit or delete thevoting instruction (the review/resubmit/delete process may be carriedout manually or automatically). Consequently, based on the validationprocess, the voting entity can account for all records of the votinginstruction including voting instruction sent, voting instructionaccepted and/or voting instruction rejected.

In a further embodiment, the accepted voting instructions are thenentered into the Data Consolidation Computer System 101 for processingand subsequent reporting to the appropriate tabulator, solicitor,sub-voting entity transfer agent and/or equivalent entity.

In a further embodiment (see e.g., FIG. 3C), a ballot record of an entryof a voting instruction is prepared for distribution to the votingentity. For example, the ballot record may include all votinginstructions processed and when they were processed including, forexample, the specified time (e.g. day/date/hours/minutes/seconds). Inanother example, the ballot record may include information about whenthe voting instruction was processed as well as how the votinginstruction was cast and thus, provide a confirmation to the votingentity of exactly how and when the voting instruction occurred.

Reference is now made to FIG. 2, showing details of the information flow(including consolidated data feed) between Data Consolidation ComputerSystem 101 and Voting Entity Computer System 111. In this FIG. 2, theconsolidated data feed comprises meeting, agenda, director, ballot andvote confirmation information. It is to be understood, of course, thatthe various specifics presented in connection with this embodiment(e.g., file names, file types, number of files, event times, etc) aresimply examples provided for illustrative purposes only, and are notrestrictive.

In any case, it is seen that under this embodiment a consolidated datafeed runs from the Data Consolidation Computer System 101 to the VotingEntity Computer System 111 through File Transfer 201 a. In one example,File Transfer 201 may comprise four files: one “Meeting File; one“Agenda file”; one “Director File”; and one “Ballot File” (which mayinclude both new ballots and ballots with voted confirmations (e.g., ina specified format)). In another example, the consolidated data feed mayrun daily. In another example, the consolidated data feed may run dailyat nightly updates that reflect the daily ballot generation and voteconfirmations.

In addition to a protocol confirmation which may be carried out inconnection with the above-mentioned File Transfer 201 from DataConsolidation Computer System 101 to Voting Entity Computer System 111,Voting Entity Computer System 111 may produce a “Ballot-Confirm File” tobe transmitted back to the Data Consolidation Computer System 101through File Transfer 201 b (which File Transfer 201 b back to DataConsolidation Computer System 101 may include one or more “ResultCodes”).

For the voting entity's vote instructions (see File Transfer 201 c), theVoting Entity Computer System 111 provides to the Data ConsolidationComputer System 101 a “Domestic Vote File,” for all the voting entity'svote instructions for all ballots received from the Data ConsolidationComputer System 101 with a first type of control indicia or code (e.g.,a twelve-digit control number). In one example, the voting entity mayprovide instructions to the Data Consolidation Computer System 101 assoon as the instructions are available. In another example, a “DomesticVote File” instruction file transfer may run from the voting entity tothe Data Consolidation Computer System 101 for a specified number oftimes per day (e.g. no less than three times each business day atmutually agreed upon schedules). In one specific example (which exampleis intended to be illustrative and not restrictive), the runs may occurat: 7 AM (which may reflect appropriate votes beginning with “Day ofMeeting Voting Reports”; 3 PM (which may reflect appropriate votesbeginning with “Final Voting Reports”; and 10 PM (which may reflectappropriate votes beginning with “Day Before Meeting Voting Reports”.

The voting entity also provides to the Data Consolidation ComputerSystem 101 a “Global Vote File,” for all the voting entity's voteinstructions for all ballots received from the Data ConsolidationComputer System 101 with a second type of control indicia or code (e.g.,a thirteen-digit control number). In one example, the “Global Vote File”instruction file transfer runs from the Voting Entity Computer System111 to the Data Consolidation Computer System 101 for a specified numberof times per day (e.g. daily at a mutually agreed upon schedule such asprior to 1 PM—which will then be reflected in the daily distribution ofglobal votes for that same day).

Further, “Contest Votes” may be transmitted in a similar manner throughFile Transfer 201 d.

In addition, confirmations associated with the various votes sent fromthe Voting Entity Computer System 111 to the Data Consolidation ComputerSystem 101 may be sent back to the Voting Entity Computer System 111from the Data Consolidation Computer System 101 through File Transfers201 c and 201 d.

For security purposes, the various file transfers may be fullyencrypted. In one example, the Voting Entity Computer System 111 and theData Consolidation Computer System 101 may use known hostsauthentication, and transfer files between hosts with known keys (theremay be an exchange of host keys and use of these keys to verify the hostmachine). In another example, the various file transfers may utilize achecksum file (e.g., MD5 checksum).

Continuing with the above-mentioned embodiment of the present inventiondirected to a consolidated data feed comprising meeting, agenda,director and ballot information, the following provides more specificexamples of the interaction between the outbound consolidated data feedfrom the Data Consolidation Computer System 101 to the Voting EntityComputer System 111 and inbound information from the Voting EntityComputer System 111 to the Data Consolidation Computer System 101.Again, of course, it is to be understood that the various specificspresented in connection with this embodiment (e.g., file names, filetypes, number of files, event times, etc) are simply examples providedfor illustrative purposes only, and are not restrictive.

In any case, for the outbound consolidated data feed process (i.e., fromthe Data Consolidation Computer System 101 to the Voting Entity ComputerSystem 111), file names may be established as follows for thecorresponding information: VotingEntityagenda.dat;VotingEntityballot.dat; VotingEntitydirector.dat;VotingEntitysecurity.dat; and flag.dat. Of note, the “VotingEntity”portion of the filename may be replaced by the actual name of the votingentity to which the file is directed and the agenda, director, ballotand security data for each file may contain appropriate issuer data.

In one specific example (which example is intended to be illustrativeand not restrictive), the files for the outbound consolidated data feedprocess may be processed and then placed on a PGP server during adesignated time window (e.g. between 1:30 AM and 4:30 AM everyTuesday-Saturday morning). The files for the outbound consolidated datafeed process may then be “PUT” to an FTP server to be picked-up by thevoting entity.

In this regard, any failure or confirmation emails may be sent and/orreceived within above-mentioned designated time window (if any requiredemail(s) are not received within this time window, appropriateescalation and/or remediation procedures may be carried out).

For the inbound ballot confirmation process (i.e., from the VotingEntity Computer System 111 to the Data Consolidation Computer System101), a file named VotingEntityBallConf.dat.pgp may be established. ThisVotingEntityBallConf.dat.pgp file may be generated in response to theVotingEntityballot.dat file from the consolidated data feed process.This Voting EntityBallConf.dat.pgp file may be expected to be receivedby the Data Consolidation Computer System 101 during a designated timewindow (e.g. between 8 AM and 10 AM every Monday-Friday).

Again, any failure or confirmation emails may be sent and/or receivedwithin above-mentioned designated time window (if any required email(s)are not received within this time window, appropriate escalation and/orremediation procedures may be carried out).

For a first time period inbound vote process (i.e., from the VotingEntity Computer System 111 to the Data Consolidation Computer System101), a file named VotingEntityDom_7.dat.pgp may be established. Thisfirst time period inbound vote process may occur at about 7 AM, suchthat the VotingEntityDom_7.dat.pgp file may be expected to be received,for example, every Monday-Friday between 6 AM and 8 AM. Again, anyfailure or confirmation emails may be sent and/or received within theappropriate time window (if any required email(s) are not receivedwithin this time window, appropriate escalation and/or remediationprocedures may be carried out).

For a first time period outbound vote process (i.e., from the DataConsolidation Computer System 101 to the Voting Entity Computer System111), a file named VotingEntityOutD07.dat may be established. ThisVotingEntityOutD07.dat file is generated in response to the first timeperiod inbound vote file named VotingEntityDom_7.dat.pgp and thisVotingEntityOutD07.dat file may be expected to be processed during aspecified time frame (e.g. every Monday-Friday between 6 AM and 9 AM).

Again, any failure or confirmation emails may be sent and/or receivedwithin the appropriate time window (if any required email(s) are notreceived within this time window, appropriate escalation and/orremediation procedures may be carried out).

For a second time period inbound vote process (i.e., from the VotingEntity Computer System 111 to the Data Consolidation Computer System101), a file named VotingEntityDom_15.dat.pgp may be established. Thisfirst time period inbound vote process may occur at about 3 PM, suchthat the VotingEntityDom_15.dat.pgp file may be expected to be received,for example, every Monday-Friday between 2 PM and 4 PM.

Again, any failure or confirmation emails may be sent and/or receivedwithin the appropriate time window (if any required email(s) are notreceived within this time window, appropriate escalation and/orremediation procedures may be carried out).

For a second time period outbound vote process (i.e., from the DataConsolidation Computer System 101 to the Voting Entity Computer System111), a file named VotingEntityOutD015.dat may be established. ThisVotingEntityOutD015.dat file is generated in response to the second timeperiod inbound vote file named VotingEntityDom_15.dat.pgp and thisVotingEntityOutD015.dat file may be expected to be processed during aspecified time frame (e.g. every Monday-Friday between 2 PM and 5 PM).

Again, any failure or confirmation emails may be sent and/or receivedwithin the appropriate time window (if any required email(s) are notreceived within this time window, appropriate escalation and/orremediation procedures may be carried out).

For a third time period inbound vote process (i.e., from the VotingEntity Computer System 111 to the Data Consolidation Computer System101), a file named VotingEntityDom_20.dat.pgp may be established. Thisfirst time period inbound vote process may occur at about 8 PM, suchthat the VotingEntityDom_20.dat.pgp file may be expected to be received,for example, every Monday-Friday between 7 PM and 9 PM.

Again, any failure or confirmation emails may be sent and/or receivedwithin the appropriate time window (if any required email(s) are notreceived within this time window, appropriate escalation and/orremediation procedures may be carried out).

For a third time period outbound vote process (i.e., from the DataConsolidation Computer System 101 to the Voting Entity Computer System111), a file named VotingEntityOutD020.dat may be established. ThisVotingEntityOutD020.dat file is generated in response to the third timeperiod inbound vote file named VotingEntityDom_20.dat.pgp and thisVotingEntityOutD020.dat file may be expected to be processed during aspecified time frame (e.g. every Monday-Friday between 7 PM and 10 PM).

Again, any failure or confirmation emails may be sent and/or receivedwithin the appropriate time window (if any required email(s) are notreceived within this time window, appropriate escalation and/orremediation procedures may be carried out).

Continuing with the above-mentioned embodiment of the present inventiondirected to a consolidated data feed comprising meeting, agenda,director and ballot information, the following provides yet morespecific examples of an outbound vote validation process (i.e., from theData Consolidation Computer System 101 to the Voting Entity ComputerSystem 111). Again, of course, it is to be understood that the variousspecifics presented in connection with this embodiment (e.g., filenames, file types, number of files, event times, etc) are simplyexamples provided for illustrative purposes only, and are notrestrictive (this example refers to outbound file VotingEntityOutD07.datand inbound file VotingEntityDom_7.dat.pgp, although the process may ofcourse be utilized in connection with other files).

In any case, it is noted that the vote validation fileVotingEntityOutD07.dat from the Data Consolidation Computer System 101to the Voting Entity Computer System 111 is in response to the vote fileVotingEntityDom_7.dat.pgp from the Voting Entity Computer System 111 tothe Data Consolidation Computer System 101 and that the vote validationfile is created and placed on a PGP server. Further, one or more batchprograms watch for the vote validation file (e.g., during a designatedtime window). Once the file is successfully found on the PGP server, abatch file runs the following processes:

-   -   1. Encrypts the vote validation file on the PGP server.    -   2. FTP's the encrypted file from the PGP server to an FTP        server.    -   3. Runs an FTPcheck utility that verifies the “get” process was        successfully completed.    -   4. Archives the file to maintain, for example, 5 generations of        the file.    -   5. Runs an NDM task that generates an email to notify of the        successful placement of the file on the FTP server.

Regarding error checking of the above process, it is noted that: (a) ifa designated file is not available on the PGP server by a designatedtime, then an alarm or email may be generated to notify of the failure;(b) if the FTPcheck utility detects a failure in the FTP “put” processthe utility may generate a failure alarm or email; and/or (c) if one ormore of the batch processes fails to run successfully, an alarm or emailmay be generated.

In another embodiment of the present invention the Voting EntityComputer System 111 receives files for meetings, agendas, directors andballots on a specified time frame and during this specified time framethe Data Consolidation Computer System 101 accepts from the VotingEntity Computer System 111 domestic, global, and contest votes.

Further, the following are examples of software programs that may beused to implement various processes associated with the presentinvention:

-   -   A program that creates a report using data captured as part of a        billing system. The report displays the specific details behind        the billing numbers. In one example (which example is intended        to be illustrative and not restrictive), the data being captured        may comprise the number of vote instructions being sent to the        Voting Entity Computer System 111 at a specified time.    -   A program that creates a Meeting information file. In one        example (which example is intended to be illustrative and not        restrictive), this program may check a specified table to        determine if a ballot has been created for a particular meeting.        If a ballot has been created, then the meeting information        pertaining to this ballot is created. If no ballot is found,        then the meeting information is not created.    -   A program that creates a Ballot information file.        -   A program that creates an Agenda Director Information file.            In one example (which example is intended to be illustrative            and not restrictive), this program may check a specified            table to determine if a ballot has been created for a            particular meeting. If a ballot has been created, then the            Agenda Director information pertaining to this ballot is            created. If no ballot is found, then the Agenda Director            information is not created.        -   A program that processes a file that the Voting Entity            Computer System 111 sends on a specified time frame. In one            example (which example is intended to be illustrative and            not restrictive), this file may contain confirmation of the            ballot records the voting entity has received from a prior            consolidated data feed. This file may be used to update each            individual ballot record on a Ballot table reflecting if            ballot was accepted or rejected by the voting entity (and            implicitly confirm that meeting and agenda information            pertinent to said ballot has also been received and            inserted).        -   A program that creates an Agenda Proposal Information file.            In one example (which example is intended to be illustrative            and not restrictive), this program may check a specified            table to determine if a ballot has been created for a            particular meeting. If a ballot has been created, then the            Agenda Proposal information pertaining to this ballot is            created. If no ballot is found, then the Agenda Proposal            information is not created. Also, if no ballot is found,            then a notation may be used to mark the records that did not            have ballots to allow the Data Consolidation Computer System            101 to check them periodically to determine if a ballot was            created for these meetings, so the Data Consolidation            Computer System 101 can send them to the Voting Entity            Computer System 111.

Regarding the ballot confirmation discussed above, after the ballotshave been integrated into the Voting Entity Computer System 111, aballot confirmation file may be created and then sent back to the DataConsolidation Computer System 101. Once the Data Consolidation ComputerSystem 101 receives this file, the Data Consolidation Computer System101 may delete the downloaded file(s) and update the ballot files withthe result codes and download flags. This may be done as each ballotconfirmation is integrated into the Data Consolidation Computer System101. In one example (which example is intended to be illustrative andnot restrictive), the following data elements may be written out to thisfile: institution ID of the ballot, control number, agenda key, andresult code.

Regarding the ballot information, the ballot file may contain, forexample, two types of ballots: Unvoted and Voted. Specifically, theballot may be sent once when it is created and a second time when theData Consolidation Computer System 101 has processed a votinginstruction for the ballot. In one example (which example is intended tobe illustrative and not restrictive), a first check may be whether thejob number/security combination for a meeting exists; the next check maybe whether the agenda exists; the next check may determine if thecontrol number exists. As stated earlier, the ballot may be sent oncewhen it is created and a second time when the Data ConsolidationComputer System 101 has processed a vote. The vote information may besent in several fields, including, but not limited to: vote date field(date vote was recorded by the system), proposal vote field (string ofthe proposal votes), director vote field (string of director votes for adomestic director proposal). Ballots for contested meetings may belinked to the appropriate committee via the agenda key.

The recipient (e.g. voting entity) of the consolidated data feed maycreate independent audit reports of those meetings, agenda, directorsand/or ballots that fail during the integration process and then takeappropriate action concerning how to resolve the issue.

As mentioned above, various files (e.g., which correspond to certainissuer information) may be automatically transferred during a predefinedtime window between the Data Consolidation Computer System 101 and theVoting Entity Computer System 111. The transferred files may requireboth a verification of the protocol and an application validation of thedata that is transferred at a record level (even though the VotingEntity Computer System 111 may have a different protocol than the DataConsolidation Computer System 101, both the verification and validationsteps may be carried out). In one example (which example is intended tobe illustrative and not restrictive), the verification step may comprisea confirmation that all of the required issuer information was receivedby the Voting Entity Computer System 111. Thus, in one example (whichexample is intended to be illustrative and not restrictive), if ballotinformation only is sent, the ballot information will not be applied tothe Voting Entity Computer System 111 database unless there is also theassociated meeting and agenda information attached. Consequently, underthis example, if the Data Consolidation Computer System 101 receivesconfirmation of ballot information, then this necessarily means that themeeting, agenda and ballot information have all been successfullyintegrated into the Voting Entity Computer System 111 database.

In a further example (which example is intended to be illustrative andnot restrictive), the validation step may comprise that, for everyvoting instruction file that the Data Consolidation Computer System 101receives, the Data Consolidation Computer System 101 responds with avoting instruction validation file that includes, for example: thenumber of voting instructions in the transmission; the number of votinginstructions accepted; and the number of voting instructions rejected bytype of rejection followed by the detail concerning the votinginstruction record that was rejected. As such, the validation step mayprovide information that is necessary to confirm that all of the votinginstructions, which were transmitted, are also accounted for.

In yet another embodiment, the present invention provides a votingentity with a system for integrating, organizing and displaying certainissuer information for a plurality of custodians holding positions inthe same issuer that can be integrated with any platform (and/orprotocol) chosen by the voting entity. For example (which example isintended to be illustrative and not restrictive), each voting entity canuse a single application interface to receive certain issuer informationfrom a third party, to transfer voting instructions to the third partyand to receive confirmation that the instruction has been processed onthe appropriate ballot. In yet another example (which example isintended to be illustrative and not restrictive), the present inventionmay include a data processing method (and associated system) forproviding certain issuer information to a voting entity in a security ofan institution held across a plurality of custodians, comprising thesteps of: receiving certain issuer information from the plurality ofcustodians in a common protocol between a proxy agent and thecustodians; consolidating the certain issuer information from eachcustodian into a single consolidated data feed by individual votingentity; distributing the certain issuer information to the voting entityby a controlled hierarchical transfer, wherein the distributing stepcomprises confirmation of a receipt and confirmation of consolidationwith the voting entity; and collecting vote instructions, wherein thedistributing step comprises confirmation of vote instructions executionto the voting entity.

In yet another embodiment, the present invention may be utilized for anelection relating to, for example, a beneficial proxy, a registeredproxy, a corporate action, a contested election, a political election,and/or a trade election

In yet another embodiment, the present invention comprises one or moreof the following steps: requesting and collecting information on thespecific identity of members of a population that are eligible torespond on an issue; identifying the appropriate members of thepopulation; communicating and distributing the information to themembers of the population, consolidating the distribution of theresponses acquired from different sources; collecting the response onany issues distributed; and returning a confirmation that the responsehas been received and processed with a recapitulation of the response asinstructed.

Of note, the present invention may, of course, be implemented using anyappropriate computer hardware and/or computer software. In this regard,those of ordinary skill in the art are well versed in the type ofcomputer hardware that may be used (e.g., a mainframe, a mini-computer,a personal computer (“PC”), a network (e.g., an intranet and/or theInternet)), the type of computer programming techniques that may be used(e.g., object oriented programming), and the type of computerprogramming languages that may be used (e.g., C++, Basic). Theaforementioned examples are, of course, illustrative and notrestrictive.

While a number of embodiments of the present invention have beendescribed, it is understood that these embodiments are illustrativeonly, and not restrictive, and that many modifications may becomeapparent to those of ordinary skill in the art. For example, certainmethods have been described herein as being “computer implementable”. Inthis regard it is noted that while such methods can be implemented usinga computer, the methods do not necessarily have to be implemented usinga computer. Also, to the extent that such methods are implemented usinga computer, not every step must necessarily be implemented using acomputer. Further, the specific dates, time spans, rates, prices, valuesand the like described with reference to the various examples are, ofcourse, illustrative and not restrictive. Further still, while thepresent invention has been described principally with respect tointerchanging information with one issuer of securities or their agent(solicitor), the invention could, of course, be configured tointerchange information with a plurality of issuers of securities ortheir agents. Further still, while the present invention has beendescribed principally with respect to interchanging information with onevoting entity, the invention could, of course, be configured tointerchange information with a plurality of voting entities. Furtherstill, while the present invention has been described principally withrespect to interchanging information with one beneficial owner, theinvention could, of course, be configured to interchange informationwith a plurality of beneficial owners. Further still, while the presentinvention has been described principally with respect to interchanginginformation with two custodians, the invention could, of course, beconfigured to interchange information with a different number ofcustodians. Further still, the present invention may be used inconnection with any identifiable population eligible to respond to anissue. Further still, various securities exchanges (e.g., the New YorkStock Exchange, the American Stock Exchange, the NASDAQ) may send and/orreceive information for use hereunder. Further still, actual votes canbe substituted for voting instructions.

What is claimed is:
 1. A computer implemented voting method, comprising:consolidating vote request information relating to a security owned by abeneficial owner and held by at least two custodians for the beneficialowner; generating at least a first computer file including theconsolidated vote request information; electronically transmitting thefirst computer file to a computer system of a voting entity; integratingthe first computer file into a database associated with the computersystem of the voting entity; receiving, at the computer system of thevoting entity, at least one beneficial owner vote instruction sent fromthe beneficial owner; and generating at least one voting entity voteinstruction responsive to the consolidated vote request information,wherein the voting entity vote instruction is generated by the computersystem of the voting entity based at least in part upon the integratedfirst computer file and the beneficial owner vote instruction from thebeneficial owner.
 2. The method of claim 1, further comprisinggenerating at least a second computer file including confirmation of thereceipt of the first computer file having the consolidated vote requestinformation.
 3. The method of claim 2, wherein the second computer fileis generated using the computer system of the voting entity.
 4. Themethod of claim 3, wherein the generating of the first computer file iscarried out by a data consolidation computer system and the secondcomputer file is electronically transmitted to the data consolidationcomputer system from the computer system of the voting entity.
 5. Themethod of claim 4, further comprising generating at least a thirdcomputer file including the voting entity vote instruction.
 6. Themethod of claim 5, wherein the third computer file is generated usingthe computer system of the voting entity.
 7. The method of claim 6,wherein the third computer file is electronically transmitted to thedata consolidation computer system from the computer system of thevoting entity.
 8. The method of claim 7, further comprising generatingat least a fourth computer file including confirmation of the receipt ofthe third computer file having the voting entity vote instruction. 9.The method of claim 8, wherein the fourth computer file is generatedusing the data consolidation computer system.
 10. The method of claim 9,wherein the fourth computer file is electronically transmitted to thecomputer system of the voting entity from the data consolidationcomputer system.
 11. The method of claim 1, further comprising receivingnotice from an issuer of securities or their agent requiringdistribution of vote request information.
 12. The method of claim 11,wherein the consolidating is carried out by a data consolidationcomputer system and the notice from the issuer of securities or theiragent is electronically transmitted to the data consolidation computersystem in the form of at least one computer file.
 13. The method ofclaim 1, further comprising receiving, from each of the custodians,information relating to the security owned by the beneficial owner andheld by the custodians for the beneficial owner.
 14. The method of claim13, wherein the information relating to the security owned by thebeneficial owner and held by the custodians for the beneficial owner isselected from the group including: (a) the name of the beneficial owner;(b) the address of the beneficial owner; (c) the share positions of thebeneficial owner; and (d) at least one account number associated withthe beneficial owner.
 15. The method of claim 13, wherein theconsolidating is carried out by a data consolidation computer system andthe information relating to the security owned by the beneficial ownerand held by the custodians for the beneficial owner is electronicallytransmitted to the data consolidation computer system in the form of atleast one computer file.
 16. The method of claim 1, wherein thebeneficial owner vote instruction is electronically transmitted to thecomputer system of the voting entity in the form of at least onecomputer file.
 17. The method of claim 1, wherein the beneficial owneris an institutional shareholder.
 18. The method of claim 1, wherein thevote request information relates to at least one of: (a) a domesticvote; (b) a contest vote; and (c) a non-North American vote.
 19. Themethod of claim 1, wherein the steps are carried out in the orderrecited.
 20. A computer infrastructure apparatus for voting, comprising:a data consolidation computer system; and a computer system of a votingentity; wherein the data consolidation computer system consolidates voterequest information relating to a security owned by a beneficial ownerand held by at least two custodians for the beneficial owner; whereinthe data consolidation computer system generates at least a firstcomputer file including the consolidated vote request information;wherein the data consolidation computer system electronically transmitsthe first computer file to the computer system of the voting entity;wherein the computer system of the voting entity integrates the firstcomputer file into a database associated with the computer system of thevoting entity; wherein the computer system of the voting entity receivesat least one beneficial owner vote instruction sent from the beneficialowner; and wherein the computer system of the voting entity generates atleast one voting entity vote instruction responsive to the consolidatedvote request information, wherein the voting entity vote instruction isgenerated by the computer system of the voting entity based at least inpart upon the integrated first computer file and the beneficial ownervote instruction from the beneficial owner.